Featured Articles

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC has announced that it will begin volume production of 16nm FinFET products in the second half of 2015, in late…

More...
AMD misses earnings targets, announces layoffs

AMD misses earnings targets, announces layoffs

AMD has missed earnings targets and is planning a substantial job cuts. The company reported quarterly earnings yesterday and the street is…

More...
Did Google botch the Nexus 6 and Nexus 9?

Did Google botch the Nexus 6 and Nexus 9?

As expected, Google has finally released the eagerly awaited Nexus 6 phablet and its first 64-bit device, the Nexus 9 tablet.

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 26 January 2010 04:23

Apple reports $3.38 billion Q1 profit, iPhone sales double

Written by Jon Worrel

Image

Its “all-time highest revenue and profit”


Apple
just released its fiscal Q1 2010 financial results to analysts and investors just a few hours ago, revealing that the fruit-themed toymaker effectively doubled its iPhone sales compared to last year.

The company’s conference call concluded to state that net income for the quarter ending December 31, 2009 surged 50-percent from a year earlier to a record $3.4 billion ($3.67 per share). The company sold 8.7 million iPhones during a very strong holiday sales period, and up to 7.4 million units in the prior quarter.

Image

In contrast, analysts who were polled had expected earning of $2.08 per share. In perspective, Apple’s total sales rose 32-percent to a record $15.7 billion, marking the second straight quarter in which Apple has posted record revenue. "If you annualize our quarterly revenue, it's surprising that Apple is now a $50+ billion company," said CEO Steve Jobs. "The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."

Meanwhile, Macintosh sales spiked up 33-percent and iPod sales continued to decline with an 8-percent drop over a year ago. "We're shipping our best products ever and customers love them,” said Peter Oppenheimer, Chief Financial Officer.

"Apple still has a fair amount of headroom with the iPhone given how big the market is," said Barry Jaruzelski, an analyst at Booz & Co. "That's one of the reasons why a cell phone was an obvious choice to fill the gap left by leveling-off iPod sales."

According to Engadget, laptop sales were up 18 percent, and people like the new MacBook. People also like the new iMac, and in particular, education sales went up a whopping 61-percent.

On another note, a few comments were asked during the financial conference call regarding Apple’s stance with AT&T. “AT&T is a great partner, it's important to remember that they have more mobile broadband usage than any other carrier in the world,” said Tim Cook, Chief Operating Officer. “In the vast majority of places, iPhone customers are getting a great experience. AT&T has acknowledged problems, we've personally reviewed their plans to fix it and we're confident it'll be handled.”

Several questions were also asked regarding upcoming unannounced products and everyone’s favorite unrevealed tablet that has been kept under wraps for so long. “I don't want to take away your joy and surprise on Wednesday, so let's save that,” said Cook.

Overall, Apple has proven itself a leader in the moneymaking game in this industry. Despite the confrontationally mixed opinions and impressions that various readers hold of Steve Jobs, we are still inclined to say that the man does know how to run a company. Stay tuned for more updates regarding “unannounced products” on Wednesday at 10am PST.

Image

Last modified on Tuesday, 26 January 2010 10:36

Jon Worrel

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments